Bankwest home loan repayment calculator

Thinking about taking out a home loan with Bankwest? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Bankwest home loans compare with other options.

I'd like to borrow

$

I am an

Loan term

With a repayment type

Your estimated repayments

at interest rate 2.83 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

  • Flexible repayment options.
  • Wide range of home loan products.
  • Relatively competitive rates on most loans.
  • Package loans available.
  • Optional offset account charges a small fee.
  • Branches limited outside WA.

Bankwest home loans rates

Product
Advertised Rate
Total estimated upfront fees
Comparison Rate*
Ongoing fee
Go to site
Company

2.83%

Variable

$250

2.86%

$0
Bankwest
More details

2.73%

Variable

$250

3.18%

$395 annually
Bankwest
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3.18%

Variable

$250

3.20%

$0
Bankwest
More details

3.34%

Variable

$150

3.36%

$0
Bankwest
More details

3.42%

Variable

$250

3.44%

$0
Bankwest
More details

3.03%

Variable

$250

3.48%

$395 annually
Bankwest
More details

2.33%

Fixed - 3 years

$250

3.51%

$395 annually
Bankwest
More details

3.53%

Variable

$150

3.55%

$0
Bankwest
More details

2.24%

Fixed - 2 years

$250

3.57%

$395 annually
Bankwest
More details

3.62%

Variable

$150

3.64%

$0
Bankwest
More details

3.09%

Fixed - 5 years

$250

3.67%

$395 annually
Bankwest
More details

3.24%

Variable

$250

3.68%

$395 annually
Bankwest
More details

2.89%

Fixed - 1 year

$250

3.72%

$395 annually
Bankwest
More details

3.33%

Variable

$250

3.72%

$395 annually
Bankwest
More details

3.29%

Fixed - 4 years

$250

3.75%

$395 annually
Bankwest
More details

3.39%

Fixed - 3 years

$250

3.75%

$395 annually
Bankwest
More details

3.32%

Variable

$250

3.76%

$395 annually
Bankwest
More details

3.59%

Fixed - 1 year

$250

3.77%

$395 annually
Bankwest
More details

3.59%

Fixed - 2 years

$250

3.79%

$395 annually
Bankwest
More details

3.77%

Variable

$150

3.79%

$0
Bankwest
More details

3.79%

Fixed - 4 years

$250

3.87%

$395 annually
Bankwest
More details

3.79%

Fixed - 5 years

$250

3.89%

$395 annually
Bankwest
More details

3.46%

Variable

$250

3.90%

$395 annually
Bankwest
More details

2.49%

Fixed - 3 years

$250

3.98%

$395 annually
Bankwest
More details

3.63%

Variable

$250

4.02%

$395 annually
Bankwest
More details

3.63%

Variable

$250

4.02%

$395 annually
Bankwest
More details

4.02%

Variable

$150

4.04%

$0
Bankwest
More details

3.67%

Variable

$250

4.06%

$395 annually
Bankwest
More details

2.99%

Fixed - 3 years

$250

4.08%

$395 annually
Bankwest
More details

3.29%

Fixed - 5 years

$250

4.09%

$395 annually
Bankwest
More details

4.15%

Variable

$150

4.17%

$0
Bankwest
More details

3.69%

Fixed - 5 years

$250

4.21%

$395 annually
Bankwest
More details

3.19%

Fixed - 2 years

$250

4.22%

$395 annually
Bankwest
More details

2.53%

Fixed - 3 years

$545

4.24%

$12 monthly
Bankwest
More details

3.29%

Fixed - 5 years

$545

4.24%

$12 monthly
Bankwest
More details

3.59%

Fixed - 4 years

$250

4.24%

$395 annually
Bankwest
More details

3.49%

Fixed - 2 years

$250

4.25%

$395 annually
Bankwest
More details

3.79%

Fixed - 4 years

$250

4.27%

$395 annually
Bankwest
More details

3.19%

Fixed - 1 year

$250

4.28%

$395 annually
Bankwest
More details

3.86%

Variable

$250

4.29%

$395 annually
Bankwest
More details

3.49%

Fixed - 1 year

$250

4.30%

$395 annually
Bankwest
More details

3.92%

Variable

$250

4.35%

$395 annually
Bankwest
More details

2.44%

Fixed - 2 years

$545

4.39%

$12 monthly
Bankwest
More details

3.49%

Fixed - 4 years

$545

4.40%

$12 monthly
Bankwest
More details

3.59%

Fixed - 3 years

$545

4.52%

$12 monthly
Bankwest
More details

3.99%

Fixed - 5 years

$545

4.53%

$12 monthly
Bankwest
More details

3.99%

Fixed - 4 years

$545

4.57%

$12 monthly
Bankwest
More details

3.09%

Fixed - 1 year

$545

4.64%

$12 monthly
Bankwest
More details

3.79%

Fixed - 2 years

$545

4.64%

$12 monthly
Bankwest
More details

3.49%

Fixed - 5 years

$545

4.69%

$12 monthly
Bankwest
More details

3.79%

Fixed - 1 year

$545

4.71%

$12 monthly
Bankwest
More details

2.69%

Fixed - 3 years

$545

4.75%

$12 monthly
Bankwest
More details

4.75%

Variable

$845

4.77%

$0
Bankwest
More details

3.89%

Fixed - 5 years

$545

4.87%

$12 monthly
Bankwest
More details

3.19%

Fixed - 3 years

$545

4.89%

$12 monthly
Bankwest
More details

3.79%

Fixed - 4 years

$545

4.92%

$12 monthly
Bankwest
More details

4.52%

Variable

$250

4.93%

$395 annually
Bankwest
More details

3.99%

Fixed - 4 years

$545

5.00%

$12 monthly
Bankwest
More details

4.62%

Variable

$250

5.03%

$395 annually
Bankwest
More details

3.39%

Fixed - 2 years

$545

5.09%

$12 monthly
Bankwest
More details

5.10%

Variable

$845

5.12%

$0
Bankwest
More details

3.69%

Fixed - 2 years

$545

5.14%

$12 monthly
Bankwest
More details

3.39%

Fixed - 1 year

$545

5.26%

$12 monthly
Bankwest
More details

3.69%

Fixed - 1 year

$545

5.29%

$12 monthly
Bankwest
More details

5.40%

Variable

$845

5.42%

$0
Bankwest
More details

5.53%

Variable

$845

5.55%

$0
Bankwest
More details

Bankwest customer service

Bankwest home loans customers can contact the bank through a number of different mediums, including online, via email or on the Bankwest Forum. The bank also has an Australian-based call centre with specialised lines for personal, business and international customers. There is also the option to talk to a staff member in person at Bankwest branch or book a mobile or phone appointment with an affiliated lending specialist.

  • Customer service centre (phone, email, branch)
  • Mobile app
  • Online banking
  • Live Chat
  • Mobile banking staff

How to Apply

Potential Bankwest customers can apply for a home loan in a number of ways. These include online or phone applications, as well as the option to make an appointment at a Bankwest branch or with a mobile lending specialist. You will also need to provide documentation when applying for a home loan. This may include:

  • Personal details and identification.
  • Employment details.
  • Financial details such as income, assets and any other loans or commitments.

For refinancers you may also have to provide recent home loan statements for the past six months from your other financial institution.

About Bankwest home loans

There are home loans offered by Bankwest to suit almost every mortgage borrower in Australia, including:

  • First home buyers
  • Upgraders
  • Renovators
  • Refinancers
  • Investors
  • Seniors (reverse mortgages)
  • SMSFs (superannuation home loans)
  • Self-employed (low-doc loans)
  • Line-of-credit loans (for new and small businesses)

Bankwest also offers a variety of mortgage interest rates, including:

  • Variable interest rates
  • Fixed interest rates
  • Principal-and-interest home loans
  • Interest-only mortgages
  • Split loans

Bankwest lets customers use a paperless home loan application. The maximum term on a home loan with Bankwest is 30 years, and repayments can be made weekly, fortnightly or monthly. There are also mortgages from the bank that offer a free redraw facility, as well as up to 100 per cent offset account and the ability to make extra repayments any time. It pays to compare the home loans carefully to find the features that suit you best.

Bankwest home loan rates

Mortgage rates offered by Bankwest differ depending on what product customers choose. Bankwest has to compete against the big four banks, which have significantly more brand recognition and branches. So, to stay competitive, Bankwest often undercuts the interest rates offered by ANZ, Commonwealth Bank, NAB and Westpac.  

For owner-occupiers paying interest and principal, Bankwest rates tend to be moderately low, while its interest-only rates tend to be very low. Mortgages for investors generally have very low interest rates, especially interest-only home loans. Bankwest’s upfront fees are generally moderate. That said, there can be differences from product to product.

Bankwest puts a different rate on variable and fixed home loans. Depending on the product, there can be significant differences, so it’s worth comparing the two to get the best home loan rate to suit your needs.

Bankwest home loans review

Bankwest mortgage customers get the benefit of banking with a smaller, more personal bank, but the safety of knowing it’s owned by the largest bank in Australia (Commonwealth Bank).

Bankwest offers home loans to suit almost every type of borrower, whether a first home buyer, a refinancer, an investor or an owner-occupier. There are also several specialist home loans offered by Bankwest, including reverse mortgages, SMSF mortgages and low-doc loans for the self-employed.

Bankwest’s interest rates are generally low compared to many of its competitors in Australia, but the fees vary significantly between the products offered by the bank. There are some home loans at Bankwest with no application and monthly maintenance fees, however some mortgage products have high annual fees, so it pays to compare home loans carefully to get the best deal.

About Bankwest home loans

There are home loans offered by Bankwest to suit almost every mortgage borrower in Australia, including:

  • First home buyers
  • Upgraders
  • Renovators
  • Refinancers
  • Investors
  • Seniors (reverse mortgages)
  • SMSFs (superannuation home loans)
  • Self-employed (low-doc loans)
  • Line-of-credit loans (for new and small businesses)

Bankwest also offers a variety of mortgage interest rates, including:

  • Variable interest rates
  • Fixed interest rates
  • Principal-and-interest home loans
  • Interest-only mortgages
  • Split loans

Bankwest lets customers use a paperless home loan application. The maximum term on a home loan with Bankwest is 30 years, and repayments can be made weekly, fortnightly or monthly. There are also mortgages from the bank that offer a free redraw facility, as well as up to 100 per cent offset account and the ability to make extra repayments any time. It pays to compare the home loans carefully to find the features that suit you best.

Bankwest home loan rates

Mortgage rates offered by Bankwest differ depending on what product customers choose. Bankwest has to compete against the big four banks, which have significantly more brand recognition and branches. So, to stay competitive, Bankwest often undercuts the interest rates offered by ANZ, Commonwealth Bank, NAB and Westpac.  

For owner-occupiers paying interest and principal, Bankwest rates tend to be moderately low, while its interest-only rates tend to be very low. Mortgages for investors generally have very low interest rates, especially interest-only home loans. Bankwest’s upfront fees are generally moderate. That said, there can be differences from product to product.

Bankwest puts a different rate on variable and fixed home loans. Depending on the product, there can be significant differences, so it’s worth comparing the two to get the best home loan rate to suit your needs.

Bankwest home loans review

Bankwest mortgage customers get the benefit of banking with a smaller, more personal bank, but the safety of knowing it’s owned by the largest bank in Australia (Commonwealth Bank).

Bankwest offers home loans to suit almost every type of borrower, whether a first home buyer, a refinancer, an investor or an owner-occupier. There are also several specialist home loans offered by Bankwest, including reverse mortgages, SMSF mortgages and low-doc loans for the self-employed.

Bankwest’s interest rates are generally low compared to many of its competitors in Australia, but the fees vary significantly between the products offered by the bank. There are some home loans at Bankwest with no application and monthly maintenance fees, however some mortgage products have high annual fees, so it pays to compare home loans carefully to get the best deal.

Learn more about Bankwest

Do the big four banks have guarantor home loans?

Yes, ANZ, Commonwealth Bank, NAB and Westpac all offer guarantor home loans. These mortgages are also offered by many other banks, credit unions and building societies.

Are bad credit home loans dangerous?

Bad credit home loans can be dangerous if the borrower signs up for a loan they’ll struggle to repay. This might occur if the borrower takes out a mortgage at the limit of their financial capacity, especially if they have some combination of a low income, an insecure job and poor savings habits.

Bad credit home loans can also be dangerous if the borrower buys a home in a stagnant or falling market – because if the home has to be sold, they might be left with ‘negative equity’ (where the home is worth less than the mortgage).

That said, bad credit home loans can work out well if the borrower is able to repay the mortgage – for example, if they borrow conservatively, have a decent income, a secure job and good savings habits. Another good sign is if the borrower buys a property in a market that is likely to rise over the long term.

How common are low-deposit home loans?

Low-deposit home loans aren’t as common as they once were, because they’re regarded as relatively risky and the banking regulator (APRA) is trying to reduce risk from the mortgage market.

However, if you do your research, you’ll find there is still a fairly wide selection of banks, credit unions and non-bank lenders that offers low-deposit home loans.

What happens to my home loan when interest rates rise?

If you are on a variable rate home loan, every so often your rate will be subject to increases and decreases. Rate changes are determined by your lender, not the Reserve Bank of Australia, however often when the RBA changes the cash rate, a number of banks will follow suit, at least to some extent. You can use RateCity cash rate to check how the latest interest rate change affected your mortgage interest rate.

When your rate rises, you will be required to pay your bank more each month in mortgage repayments. Similarly, if your interest rate is cut, then your monthly repayments will decrease. Your lender will notify you of what your new repayments will be, although you can do the calculations yourself, and compare other home loan rates using our mortgage calculator.

There is no way of conclusively predicting when interest rates will go up or down on home loans so if you prefer a more stable approach consider opting for a fixed rate loan.

Does Australia have no-deposit home loans?

Australia no longer has no-deposit home loans – or 100 per cent home loans as they’re also known – because they’re regarded as too risky.

However, some lenders allow some borrowers to take out mortgages with a 5 per cent deposit.

Another option is to source a deposit from elsewhere – either by using a parental guarantee or by drawing out equity from another property.

Who offers 40 year mortgages?

Home loans spanning 40 years are offered by select lenders, though the loan period is much longer than a standard 30-year home loan. You're more likely to find a maximum of 35 years, such as is the case with Teacher’s Mutual Bank

Currently, 40 year home loan lenders in Australia include AlphaBeta Money, BCU, G&C Mutual Bank, Pepper, and Sydney Mutual Bank.

Even though these lengthier loans 35 to 40 year loans do exist on the market, they are not overwhelmingly popular, as the extra interest you pay compared to a 30-year loan can be over $100,000 or more.

What is 'principal and interest'?

‘Principal and interest’ loans are the most common type of home loans on the market. The principal part of the loan is the initial sum lent to the customer and the interest is the money paid on top of this, at the agreed interest rate, until the end of the loan.

By reducing the principal amount, the total of interest charged will also become smaller until eventually the debt is paid off in full.

How can I get a home loan with bad credit?

If you want to get a home loan with bad credit, you need to convince a lender that your problems are behind you and that you will, indeed, be able to repay a mortgage.

One step you might want to take is to visit a mortgage broker who specialises in bad credit home loans (also known as ‘non-conforming home loans’ or ‘sub-prime home loans’). An experienced broker will know which lenders to approach, and how to plead your case with each of them.

Two points to bear in mind are:

  • Many home loan lenders don’t provide bad credit mortgages
  • Each lender has its own policies, and therefore favours different things

If you’d prefer to directly approach the lender yourself, you’re more likely to find success with smaller non-bank lenders that specialise in bad credit home loans (as opposed to bigger banks that prefer ‘vanilla’ mortgages). That’s because these smaller lenders are more likely to treat you as a unique individual rather than judge you according to a one-size-fits-all policy.

Lenders try to minimise their risk, so if you want to get a home loan with bad credit, you need to do everything you can to convince lenders that you’re safer than your credit history might suggest. If possible, provide paperwork that shows:

  • You have a secure job
  • You have a steady income
  • You’ve been reducing your debts
  • You’ve been increasing your savings

What is the best interest rate for a mortgage?

The fastest way to find out what the lowest interest rates on the market are is to use a comparison website.

While a low interest rate is highly preferable, it is not the only factor that will determine whether a particular loan is right for you.

Loans with low interest rates can often include hidden catches, such as high fees or a period of low rates which jumps up after the introductory period has ended.

To work out the best value for money, have a look at a loan’s comparison rate and read the fine print to get across all the fees and charges that you could be theoretically charged over the life of the loan.

What are the responsibilities of a mortgage broker?

Mortgage brokers act as the go-between for borrowers looking for a home loan and the lenders offering the loan. They offer personalised advice to help borrowers choose the right home loan for their needs.

In Australia, mortgage brokers are required by law to carry an Australian Credit License (ACL) if they offer credit assistance services. Which is the legal term for guidance regarding the different kinds of credit offered by lenders, including home loan mortgages. They may not need this license if they are working for an aggregator, for instance, as a franchisee. In both these situations, they need to comply with the regulations laid down by the Australian Securities and Investments Commission (ASIC).

These regulations, which are stipulated by Australian legislation, require mortgage brokers to comply with what are called “responsible lending” and “best interest” obligations. Responsible lending obligations mean brokers have to suggest “suitable” home loans. This means loans that you can easily qualify for,  actually meet your needs, and don’t prove unnecessarily challenging for you.

Starting 1 January 2021, mortgage brokers must comply with best interest obligations in addition to responsible lending obligations. These require mortgage brokers to act in the best interest of their customers and also requires them to prioritise their customers’ interests over their own. For instance, a mortgage broker may not recommend a lender who gives them a commission if that lender’s home loan offer does not benefit that particular customer.

What is a bad credit home loan?

A bad credit home loan is a mortgage for people with a low credit score. Lenders regard bad credit borrowers as riskier than ‘vanilla’ borrowers, so they tend to charge higher interest rates for bad credit home loans.

If you want a bad credit home loan, you’re more likely to get approved by a small non-bank lender than by a big four bank or another mainstream lender.

What are the pros and cons of no-deposit home loans?

It’s no longer possible to get a no-deposit home loan in Australia. In some circumstances, you might be able to take out a mortgage with a 5 per cent deposit – but before you do so, it’s important to weigh up the pros and cons.

The big advantage of borrowing 95 per cent (also known as a 95 per cent home loan) is that you get to buy your property sooner. That may be particularly important if you plan to purchase in a rising market, where prices are increasing faster than you can accumulate savings.

But 95 per cent home loans also have disadvantages. First, the 95 per cent home loan market is relatively small, so you’ll have fewer options to choose from. Second, you’ll probably have to pay LMI (lender’s mortgage insurance). Third, you’ll probably be charged a higher interest rate. Fourth, the more you borrow, the more you’ll ultimately have to pay in interest. Fifth, if your property declines in value, your mortgage might end up being worth more than your home.

Does Australia have no cost refinancing?

No Cost Refinancing is an option available in the US where the lender or broker covers your switching costs, such as appraisal fees and settlement costs. Unfortunately, no cost refinancing isn’t available in Australia.

Can I change jobs while I am applying for a home loan?

Whether you’re a new borrower or you’re refinancing your home loan, many lenders require you to be in a permanent job with the same employer for at least 6 months before applying for a home loan. Different lenders have different requirements. 

If your work situation changes for any reason while you’re applying for a mortgage, this could reduce your chances of successfully completing the process. Contacting the lender as soon as you know your employment situation is changing may allow you to work something out. 

Can I get a home loan if I am on an employment contract?

Some lenders will allow you to apply for a mortgage if you are a contractor or freelancer. However, many lenders prefer you to be in a permanent, ongoing role, because a more stable income means you’re more likely to keep up with your repayments.

If you’re a contractor, freelancer, or are otherwise self-employed, it may still be possible to apply for a low-doc home loan, as these mortgages require less specific proof of income.